Activist Fund Oasis Eyes Kyocera, Canon After Nintendo Win
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Oasis Management, the Hong Kong-based activist fund that called for the changes unveiled last month by Nintendo Co., is turning its attention to Kyocera Corp. and Canon Inc.
Oasis owns about 1 percent of Kyocera’s voting rights, according to a letter to the fund’s investors obtained by Bloomberg. It’s urging the Kyoto-based manufacturer to return cash to shareholders by selling its stake in Japan Airlines Co. and “greatly” reducing holdings of KDDI Corp., and to restructure its solar business, the March 26 letter says. Oasis is calling for Canon to take private two listed subsidiaries.